Some positivity in the Aussie Dollar but we're not out of the woods yet

Jim Devonport

Compass Global Markets

AUDUSD: Pushed higher, despite a weaker domestic Business Confidence read, on a recovery in the Chinese Trade Balance and SSE. Focus today will be on second tier data and a speech by the Deputy Governor. On the charts we haven’t negated the downward trend yet, but the signs look good for some further short term upside. AUDEUR: Retraced higher, as forecast yesterday. Interestingly Greek “bad loans” fell to just 45% and Spanish house prices recorded their largest Q2 rise ever. Technically we have hit short term resistance. AUDGBP: The Aussie made up some ground versus Sterling overnight. UK Manufacturing Production data is out this evening and could well decide whether we continue to the top of the downward channel. As ever with this pair, we suggest placing orders given the volatility. AUDNZD: Did push higher during our session; although with the RBNZ due to announce interest rate policy first thing tomorrow the market was reluctant to take us too far outside the range. We should therefore hold fire for the next 24 hours. CALL TO DISCUSS YOUR CURRENCY EXPOSURE. (VIEW LINK)


Jim Devonport
Compass Global Markets

Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.